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The manufacturing overhead budget at Latronica Corporation is based on budgeted direct labor-hours. The direct labor budget indicates that 7,600 direct labor-hours will be required in August. The variable overhead rate is $7.80 per direct labor-hour. The company's budgeted fixed manufacturing overhead is $147,440 per month, which includes depreciation of $24,920. All other fixed manufacturing overhead costs represent current cash flows. The company recomputes its predetermined overhead rate every month. The predetermined overhead rate for August should be:
a) $27.20
b) $23.70
c) $7.80
d) $19.40
Inc. earns $450,000 and pays cash dividends of $150,000 during 2013. Cox Corporation owns 70,000 of the 210,000 outstanding shares of Mission.
If the amount in Supplies Expense is the January 31 adjusting entry, and $850 of supplies was purchased in January, what was the balance in Supplies on January 1?
at december 31 2011 an analysis of the accounts of cherry co. ltd. revealed the following informationfollowing
Identify and describe the five environmental differences between governments and for-profit business enterprises as identified in the Governmental Accounting Standards Boards “Why Governmental Accounting and Financial Reporting Is—and Should Be—Diffe..
Logistics Solutions provides order fulfillment services for dot.com merchants. The company maintains warehouses that stock items carried by its dot.com clients. According to the standards, what variable overhead cost should have been incurred to fill..
A charity reimburses volunteers for small out-of-pocket expenses such as parking and gasoline when the volunteers are carrying out the business of the charity. How might an imprest fund be helpful in controlling these expenditures?
The balance sheet of Bonita Company at December 31, 2016, includes the following. Notes receivable $36,200 Accounts receivable 195,800 Less: Allowance for doubtful accounts 20,700 $211,300 Transactions in 2017 include the following. Accounts receivab..
On its income statement for a recent year, continental Airlines, Inc. reported a net loss of $68 million from operations. On its statement of cash flows, it reported $457 million of cash flows from operating activities.
Selected account balances before adjustment for Alantic Coast Realty at July 31, 2016, the end of the current year, are as follows
Evaluate the necessary requirements on the basis - Find Cranberry Corporation's addition to retained earnings with a 10% increase in sales? Assume the dividend payout ratio and profit margin remains fixed.
Audit standards require that auditors use analytical procedures at two stages in the audit: at the planning, or risk assessment, level and at the final, or concluding, stages of the audit. Why do audit standards require the second (final) set of anal..
Enhanced profitability increases the investor’s confidence in the company besides providing a strong financial backup to pursue the growth objectives efficiently. CIMIC reported improved profitability in FY2015 costs controls.
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